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U.S. method to tariffs incorrect, absurd if Britain affected – Liam Fox

LONDON (Reuters) – The United States is taking the incorrect method by looking for tariffs on metal and aluminium imports and it could be “absurd” for Britain to be caught up in them, Trade Secretary Liam Fox mentioned.

FILE PHOTO: British Trade Minister Liam Fox speaks on the China-UK Business Forum in Shanghai, China February 2, 2018. REUTERS/Stringer

U.S. President Donald Trump put import tariffs of 25 % on metal and 10 % for aluminium however exempted Canada and Mexico and provided the opportunity of excluding different allies. The European Union has mentioned that it ought to be exempt from the tariffs.

Fox mentioned there was overproduction of metal within the world, primarily coming from China, however that protectionism “never really works”, including that British metal was used to produce the U.S. army.

“So it’s doubly absurd that we should then be caught on an investigation on national security,” Fox mentioned on BBC’s Question Time late on Thursday night.

“We can deal multilaterally with the overproduction of steel, but this is the wrong way to go about it.”

He mentioned he would increase the difficulty with the United States in a visit to Washington subsequent week.

Reporting by Alistair Smout; enhancing by Guy Faulconbridge

Our Standards:The Thomson Reuters Trust Principles.

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